How to Budget?

Goals - Needs - Wants

Why Should I Have One?
How Do I Start a Budget?
How Do I Decide Where to Spend My Money?
How Do I Stick to My Budget?
When Should I Change My Budget?

The following questions may help you decide what to do ;
- Which spending can't be cut?
- What is the minimum I need to live on?
- Which spending is Needs and which is Wants?
- What would happen if I delayed some of my spending?
- Can I buy cheaper substitutes?

Here are some suggestions that can help you stick to your budget ;
- Pay necessary bills first. If possible, try to stretch your bills out evenly over the month so they are not all due on the same day.
- Save some money every month, no matter how small. You just want to form that habit.
- Make a list before you go shopping. When you shop, remember the difference between needs and wants.
- Plan ahead and buy item on sale. Check out discount stores and garage sales. Share reusable items with family and friends.
- Stay away from stores or places where you waste money!.
- Learn ways from family and friends to save money and follow a plan.
- Keep a record of where you spend money and how much money is spent. Make it simple and easy to do.
- Compare this record to your written money plan so you can see if you are following your spending decisions.


Source - NST.